EXELIXIS, INC. — Director's Dealing 2020

May 16, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXELIXIS, INC. (EXEL)
CIK: 0000939767
Period of Report: 2020-05-13

Reporting Person: Hessekiel Jeffrey (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-13	Common Stock	M	25000	$1.70	Acquired	264188	Direct
2020-05-13	Common Stock	F	13875	$26.53	Disposed	250313	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-13	Option (right to buy)	$1.7	M	25000	Disposed	2021-09-18	Common Stock (25000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	999	Indirect

Footnotes

F1: Includes 36,559 shares of Exelixis, Inc. common stock ("Common Stock") that will be issued to the Reporting Person upon vesting of restricted stock units.

F2: Represents a "net exercise" of an outstanding stock option. The Reporting Person received 11,125 shares of Common Stock on the net exercise of a stock option to purchase 25,000 shares of Common Stock. The Issuer withheld 13,875 shares of Common Stock underlying the stock option for payment of the exercise price and tax withholding using a stock price on May 13, 2020 of $26.53.

F3: Represents shares of Common Stock under the Exelixis, Inc. 401(k) Plan, pursuant to a plan statement dated as of May 13, 2020.

F4: The option, representing the right to purchase a total of 400,000 shares of Common Stock, became fully exercisable on April 28, 2016.